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| Author: | Dumas, B. Uppal, R. |
| Title: | Global diversification, growth, and welfare with imperfectly integrated markets for goods |
| Journal: | Review of Financial Studies
2001 : SPRING, VOL. 14:1, p. 277-305 |
| Index terms: | GROWTH INTERNATIONAL ECONOMICS WELFARE |
| Freeterms: | GOODS |
| Language: | eng |
| Abstract: | In this article the authors examine the effect of the imperfect mobility of goods on international risk sharing and, through that, on the investment in risky projects, welfare, and growth. Their main result is that the welfare gain from integration of financial markets is not greatly reduced by the presence of goods market imperfections, modeled as a cost of transferring goods from one country to the other. |
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